The landscape of environmental site closure in North America is undergoing a dynamic transformation. In both Canada and the USA, the infusion of voluntary carbon credits into the equation is revolutionizing the way we think about site closure projects. These credits serve a purpose far beyond the simple offsetting of emissions; they are becoming a key financial pillar supporting the decommissioning, remediation, and reclamation of sites, all while aligning with the core values of community development and environmental restoration.
This innovative approach is exciting for several reasons. For one, environmental professionals are tapping into the triple-layered benefits of carbon credits – the win win win. Financially, these credits act as a bolster to project budgets, ensuring that environmental goals don’t fall victim to fiscal constraints. Socially, the coupling of closure projects with community plans sparks job creation and an alignment with community specific prosperity goals. Environmentally, the credits serve to accelerate the repurposing of inactive sites or their return to their natural state.
In this new era, the carbon credit market is not just a trading platform but a strategic tool. It enables projects to integrate community and ecological objectives into their financial modeling, representing a holistic approach to site closure. 360 has been at the forefront of this initiative, having supported ten site closure projects in the United States within the year, and eagerly anticipating the application of newly adopted protocols in Canada.
The true beauty lies in the synergy created between the environment, society, and finance. When a site is closed and rehabilitated, the benefits extend outward, creating a circle of prosperity that touches everything from local economies to global environmental health. By embedding community engagement and development into the fabric of these projects, the resulting carbon credits become symbols of a future where financial success is inextricably linked to the welfare of our communities and the health of our planet.
Thanks for reading,
Mark
About the Author
Mark Ashton, President
Mark is a graduate of the University of Alberta and has 13 years of experience in the oil and gas industry. Prior to founding 360 in 2015, Mark spent time in both field and office-based roles for a major oilfield services company where he developed a reputation for visionary leadership and an aptitude for improving operational efficiencies. As a leader, Mark epitomizes integrity, energy, hard work, and attention to detail; qualities which permeate the company’s culture. His example promotes an environment focused on innovative thought, continual improvement and celebrating achievements. Outside of the office, Mark is an Institute of Corporate Directors Certified Director and sits as a director on the board for The Balance Foundation and Co-Chairs the board of The Calgary Downtown Association.
